uploads///stock exchange _

Oil Dragged Down Energy Subsector ETFs

By

Jun. 17 2019, Updated 7:31 a.m. ET

Energy subsector ETFs

In the week ending June 14, major energy subsector ETFs had the following performances:

  • The Alerian MLP ETF (AMLP) fell 0.2%.
  • The VanEck Vectors Oil Refiners ETF (CRAK) fell 0.5%.
  • The VanEck Vectors Oil Services ETF (OIH) fell 2.9%.
  • The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) fell 3.4%.
Article continues below advertisement

Oil and energy ETFs

Last week, US crude oil prices fell 2.7%, while natural gas active futures rose 2.1%. Oil downturn is an important factor for these ETFs’ price performance. Last week, the oil rig count fell to more than a one-year low, a negative development for the oilfield services subsector.

Moreover, in this period, Brent crude oil futures outperformed WTI crude oil active futures. The expansion in the Brent-WTI spread could have limited CRAK’s downturn. US downstream stocks account for 27.7% of CRAK.

Energy sector performance

Last week, the Energy Select Sector SPDR ETF (XLE) fell 0.4%. XLE had the highest decline among the sector-specific SPDR ETFs under review. Mixed sentiments in commodity prices might have dragged XLE. The Consumer Discretionary Select Sector SPDR Fund (XLY) rose 2.3% and outperformed SPDR ETFs. Most of the sector-specific SPDR ETFs closed in the green last week.

Advertisement

More From Market Realist

  • CONNECT with Market Realist
  • Link to Facebook
  • Link to Twitter
  • Link to Instagram
  • Link to Email Subscribe
Market Realist Logo
Do Not Sell My Personal Information

© Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.